The Nigerian inflation rate makes it easy for 22.97%

The National Statistics Bureau (NBS) has announced a decrease in Nigerian headline inflation rate from 23.71 percent in April 2025 to 22.97 percent in May 2025.

Ironically, food inflation rose to 21.14%, up 0.12% when compared with 2.06% recorded in the previous month.

This bureau makes this known in the Consumer Price Index (CPI) report which was released on Monday, June 16, 2025 in Abuja.

“At the bottom of the year, the headline inflation rate is 10.98% lower than the level recorded in May 2024 (33.95%),” NBS said.

“In addition, every month, the headline inflation rate in May 2025 is 1.53%, which is 0.33%lower than the level recorded in April 2025 (1.86%).

“This means that in May 2025, the rate increase in the average price level was lower than the average price increase in April 2025.”

The Statistics Agency said the level of headline inflation was driven by food costs, accommodation, and transportation services.

The statistical company said the level of food inflation in May 2025 was 21.14 percent on the base of the year.

However, every month to month, the bureau says the food inflation rate is 2.19 percent in the period reviewed, “up 0.12% compared to April 2025 (2.06%)”.

Also read: Nigerian inflation drops to 23.7%

“This increase can be associated with the level of decline in the average price of sweet potatoes, lacked (ogbono/apon), cassava tubers, corn flour, fresh pepper, sweet potatoes, etc.,” said NBS.

“The average annual food inflation rate for twelve months ended in May 2025 for the previous twelve months was 29.80%, which 4.26%was lower than the average annual change rate recorded in May 2024 (34.06%).”

NBS reports say food inflation, every year, is highest in Borno (64.36 percent), Bayelsa (39.85 percent), and Taraba (38.58 percent).

On the other hand, countries such as Katsina (6.90 percent), rivers (9.18 percent), and Kwara (11.31 percent) recorded the latest increase in food inflation every year.

The bureau also said that every month, the highest food inflation in Bayelsa (12.68 percent), cross river (11.15 percent), and Anambra (9.10 percent), while Katsina (-5.42 percent), Jigawa (-4.02 percent) and Kaduna (-3.27 percent) recorded it slowly.

By: Babajide Okeowo